Deutsche Börse Continues Crypto Push

Deutsche Börse has completed the acquisition of a majority stake in Crypto Finance, a FINMA-regulated provider of trading, custody, and investment services for digital assets. The agreement was signed in June, and closing was on 15 December 2021. After the completion of the deal, the acting chairman of the board of directors and co-founder of Crypto Finance, Dr Tobias Reichmuth, stepped down from his position and Eric Leupold, head of cash market at Deutsche Börse has taken over the role.

Deutsche Börse says the acquisition lays the foundation for building an independent, transparent, and highly scalable ecosystem for digital assets under European regulation. It will now be able to provide its partners and clients with direct access to digital asset services, including post-trade services. A wide range of digital assets is made available to existing customers and new market participants via their established platforms, it adds, noting in addition, synergies will serve to optimise processes and systems.

Crypto Finance will further grow the its team, realise structural growth plans, and strategically broaden both its product and service portfolio. Expansion of the customer base will be intensified, with a focus on Germany in Europe, and Singapore in Asia, the exchange group says.

“Thanks to Crypto Finance’s proven expertise and the technologies they have developed, we can now enable financial institutions and professional investors to enter the digital asset market,” says Leupold. “This is a step further in our digital asset strategy.”

Jan Brzezek, CEO and co-founder of Crypto Finance, adds, “Established financial institutions increasingly want to start investing in digital assets and are looking for a trustworthy partner. With its esteemed reputation and broad expertise in operating financial market infrastructure, Deutsche Börse garners this trust.”

Brzezek and the current management team will continue to lead Crypto Finance and retain a significant stake in the company. Crypto Finance will continue to operate as an independent brand, with a focus on banks, asset managers, FinTechs, and other financial intermediaries as its core customers.